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Endoluminal Suturing Devices Market Eminent Players - Apollo Endosurgery, Inc., Medtronic plc, Johnson and Johnson (Ethicon Endo-Surgery, Inc.)

04-13-2020 01:07 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Endoluminal Suturing Devices Market

Endoluminal Suturing Devices Market

Endoluminal Suturing Devices Market will exceed USD 73.4 million by 2024; as per a new research report. Increasing demand for endoluminal suturing devices will lead to industry growth in the future. High demand is attributable to increasing prevalence of obesity and gastroesophageal diseases. Growing disease burden will have a positive impact on demand for endoluminal suturing devices, thereby driving business growth during the projected timeframe.

Rising preference towards minimally invasive procedures for treatment of chronic diseases such as obesity will drive demand for endoluminal suturing device throughout the projected timeframe. Advantages associated with employment of endoluminal suturing device include less recovery time and reduction in hospital stay. Rising patient inclination towards minimally invasive endoluminal suturing devices will foster industry growth in the future.

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Gastroesophageal reflux disease market will show significant growth rate of 13.9% during the projected timeframe, owing to its increasing prevalence. According to International Foundation for Gastrointestinal Disorders, in 2014, about 18 million people suffered from GERD affecting about 1 in 5 people. As number of people suffering from GERD is increasing, the demand for endoluminal suturing devices will increase.

Ambulatory surgical centers segment contributed to market share of USD 8.6 million in 2017. Growth is credit to increasing proportion of individuals opting treatment at economic costs for chronic disorders in ambulatory surgical centers. Increasing patient pool along with development of advanced endoluminal suturing devices will have a positive impact on industry growth during the forecast timeframe.

Germany endoluminal suturing devices market accounted for revenue share of 17.8% in 2017, owing to increasing demand for weight loss procedures. As per World Health Organization (WHO) Statistics, about 23.6% of the German population suffered from obesity. High demand for weight loss techniques due to increasing prevalence of obesity will promote endoluminal suturing devices business growth in the future.

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Japan endoluminal suturing devices market will grow at the rate of 11.4% CAGR in 2017 owing to rising cases of gastroesophageal reflux diseases. According to The Turkish Society of Gastroenterology, in Japan, the prevalence of GERD was detected to be 16.5%. High pervasiveness of gastroesophageal reflux disease is credited to adoption of unhealthy diet, thereby propelling industry growth.

Prominent industries involved in endoluminal suturing devices market are: Apollo Endosurgery, Inc., Medtronic and Johnson and Johnson (Ethicon Endo-Surgery, Inc.). These key industry players focus on strategies such as mergers, acquisitions and new product launch to strengthen market position. For instance, in In January 2015, Medtronic announced completion of acquisition of Covidien plc and added Endo stitch suturing device and SILS stitch articulating suturing device to its minimally invasive therapy group, thereby expanding its product portfolio.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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